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GH Tax 2024

Ghana Tax Tables 2024 - Tax Rates and Thresholds in Ghana

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This page contains the tax table information used for the calculation of tax and payroll deductions in Ghana in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ GH, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Ghana or would like to add to or suggest amendments to the information herein then please contact us.

Ghana Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Ghana are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Ghana Tax Calculator 2024.

Ghana Residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
0%Income from ¢ 0.000.00to ¢ 5,880.00
5%Income from ¢ 5,880.01 to ¢ 7,200.00
10%Income from ¢ 7,200.01 to ¢ 8,760.00
17.5%Income from ¢ 8,760.01 to ¢ 46,760.00
25%Income from ¢ 46,760.01 to ¢ 238,760.00
30%Income from ¢ 238,760.01 to ¢ 605,000.00
35%Income from ¢ 605,000.01 and above
Ghana Non-residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
25%Flat rate on all taxable income

In Ghana, social security deductions made by employees are typically deductible when calculating taxable income. This means that the contributions employees make towards the social security system are subtracted from their gross income before the computation of income tax. As a result, these deductions effectively reduce the taxable income of employees, potentially lowering their overall income tax liability. This approach is designed to provide some relief to employees by recognizing their mandatory contributions towards state-run social security programs.

Ghana Social Security and Payroll Deduction Rates in 2024

In Ghana, the social security system involves contributions from both employees and employers, providing a range of benefits and support. The main components of these deductions include contributions towards pensions, health insurance, and unemployment benefits.

Ghana Social Security in 2024: Rates for Employers and Employees
Social Security (SSNIT Tier 1)0.5%13%13.5%
Private Pension Service Providers (PSPs) (SSNIT Tier 2)5%0%5%
Voluntary Provident Fund (SSNIT Tier 3)0%0%0%
Ghana Social Security and Payroll Deduction in 2024: Earnings Thresholds for Employers and Employees
Social Security (SSNIT Tier 1)n/a¢ 42,000.00n/an/a
Private Pension Service Providers (PSPs) (SSNIT Tier 2)n/a¢ 42,000.00n/an/a
Voluntary Provident Fund (SSNIT Tier 3)n/a¢ 42,000.00n/an/a

Pension Contributions: A significant portion of social security deductions in Ghana is allocated to pension funds. These contributions are intended to provide a stable source of income for individuals after retirement, ensuring financial security during their later years.

Health Insurance Contributions: Contributions towards health insurance provide access to medical services and support for healthcare expenses. This ensures the health and well-being of employees and their families.

Unemployment Benefits: Contributions also fund unemployment benefits. These provide financial assistance to individuals who are temporarily unemployed, supporting them during periods of job search and economic transition.

The social security system in Ghana plays a crucial role in ensuring the welfare and financial stability of the workforce. For employers, contributing to this system is a legal requirement, reflecting their commitment to the well-being of their employees. This comprehensive approach ensures that workers are supported across various life stages and circumstances, contributing to the overall social development of the nation.

Ghana VAT Rates in 2024

VAT rates for Ghana are reviewed annually, you can use the VAT Calculator to calculate VAT due in Ghana or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Ghana VAT Rates
VAT RateVAT Description
3%Reduced Rate
5%Reduced Rate
15%Standard Rate

Historic Tax Tables supported for Ghana

The following tax tables are supported by iCalculator™ GH as part of the suite of free tax tools we provide for Ghana.